a generic tag related to accumulating cash or bank deposit savings.

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0answers
4 views

From ACH direct debit to Prepaid card?

I am searching for solution how to be direct debited (ACH) to personal or business bank account where those funds would arrive (deposit) to prepaid card? The solution must meet all three of the ...
2
votes
3answers
361 views

Current Account Monthly Pay In

I've seen from a question here, along with some reading I've been doing on MSE that I can have multiple current accounts at the same time. What I'm trying to do now, is to work out if I can use this ...
1
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2answers
143 views

How do I begin investment saving, rather than just saving in a bank account?

For years, I have been earning and saving my money in my bank account, putting aside emergency and future funds into my "savings" account, and money for bills and personal expenses in my "checking" ...
8
votes
7answers
537 views

What should a 21 year old do with £60,000 ($91,356 USD) inheritance?

I'm turning 21 years old soon and have an inheritance coming into my control to the value of approximately £60,000. I'm full-time employed, as a Software Developer in a Financial Services company. I ...
1
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0answers
37 views

Most effective instant access savings for a child - UK

We have a maxed out stocks and shares ISA for our baby - what is the most effective non-term limited account that can be in her name? We're thinking it will be useful for birthday parties, clothes ...
2
votes
4answers
306 views

How can a 'saver' maintain or increase wealth in low interest rate economy?

If low interest rates disadvantage 'savers' what are they supposed to do if they are not inclined to buy and spend? Where should you put your money (instead of it stagnating in low interest rate ...
0
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1answer
90 views

Savings account with mango money for emergency fund

I have just started my career a couple of months back and plan to save money for emergency funds. I was browsing the internet for a good savings account and came across Mango Money savings (6% APY ...
-1
votes
1answer
42 views

What is the best way to increase the earned money staying in US for an NRI?

Im living in US from last 1 year due to work assignment and will be here for another 3-4 years. What is the best way to earn interest on earned money? Shall I send all earned money to India ...
3
votes
2answers
45 views

Automate Savings by Percentage on varying paychecks?

My boyfriend's paycheck varies every week because the hours he works depend on the volume of business. While usually around 40 hours, sometimes it is quite a bit less or quite a bit more. The ...
5
votes
5answers
994 views

Can I make my savings keep in check with or beat inflation over a long time period via index funds?

Context: €13000 banked on a 1% savings account. €1700 banked on a payment account. €1450 monthly income (after taxes). ~€400 monthly costs, and probably another €200-400 in incidental expenditures ...
1
vote
1answer
130 views

In what order should I save?

I see the advice for managing finances in the US talking about financing a pension up to employer match, then do the next thing, then the next and so on. However, I'm in the UK, and I'd quite like a ...
1
vote
1answer
47 views

EU Start investing for longterm with partner who joins saving in a few years

First off, this question is related to this one. But in general, the answers are depending on the US-Situation. I would like to ask you the same question but specified on the Situation in the ...
4
votes
5answers
276 views

Pay for a cheap car or take out a loan?

I have $2,000 in total in my savings account for a car but I am starting a better paying job in three months and I will need a car to get to it. At the moment, I am biking to my current job. I am just ...
25
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8answers
6k views

Everyone says save at least 10% of your income. What counts as “saving”?

I made a financial planning spreadsheet a while back. Then, I realized that the money I'm saving has specific allocations. This much goes to the future car payment. This much goes to the new PC I'm ...
1
vote
1answer
119 views

Everyone says you should start saving young. However, should my priority be to pay off my mortage? [duplicate]

Everything I read says you should use time to your advantage and start saving as soon as possible. However, I have a home mortage with an interest rate higher that what one could expect to make out of ...
1
vote
1answer
50 views

Exposure to Irish Housing Market

I have the majority of my savings in Swedish fonds, with the rest in Global or European (non-Euro) fonds. Current value = €50k. I also own property in Stockholm. Current value = €200k. I am 35 and ...
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votes
1answer
51 views

Is there a saving for masses of people that is fair for all sides? [closed]

I am not sure it exists so I ask, is there investment options for masses of people (like crowd funding) - that can give them a higher percentage of return?
1
vote
2answers
125 views

Transfering money from NRE to saving account is taxable or not

I have an NRI status. If I open NRE account(Yes BAnk) and transfer euros to this account from my overseas account. I understand its non taxable. My question is, if I transfer money from my NRE ...
3
votes
5answers
454 views

Take advantage of rock bottom oil prices

Is there a way to take advantage of the rock bottom oil prices as an individual? Other than filling up your car?
12
votes
4answers
1k views

I'm not broke, but I'm feeling stuck on a fixed income

I'm living on a fixed disability income, with little hope of ever being able to work again. I cannot receive any income of any kind while on disability (or I have to pay it back anyway, and risk ...
4
votes
1answer
81 views

Is it a good idea to max out a zero interest revolving credit account?

I have a 0% interest overdraft that's currently up to a £1200 limit, but I can request an increase. Would it be a good idea to transfer up to the limit (minus what I'd float in the account to make ...
3
votes
2answers
316 views

What should I be considering, as a student with an income for one year?

I'm a 3rd year university student (age 20) in the UK, and I'm half-way through a years placement that's paying ~£1200/month which finishes in July. I'm engaged, and looking to get married after I've ...
1
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2answers
116 views

Does keeping 'long-term' safety net in bonds make sense?

I was looking at various advices regarding safety net and emergency fund. Usually most sites recommend using the savings account and CDs as a safety net. As CDs/Savings are FDIC insured it's 'safe ...
2
votes
1answer
184 views

Advice on replacing my savings account

I currently have a Vanguard account (Mutual Fund) with about $10,000 in it (more now). I have a savings account with about $7,000 which I consider my "rainy day" fund and I try to put money into my ...
2
votes
1answer
84 views

Inflation & Time value of money

Can anybody explain to me how exactly does inflation erodes away bank savings using the time value concept of money?
2
votes
1answer
286 views

What is the easiest way to open a foreign Bank Account?

I live in Argentina. Nowadays in my country it is almost impossible to buy foreign currencies as American dollars or Euros. I was thinking if it is possible to open a foreign Bank Account to be able ...
6
votes
4answers
415 views

I'm 20 and starting to build up for my mortgage downpayment, where should I put my money for optimal growth?

I have no credit, no loans, and am a contractor for $40/hr at a company and I expect to work here for quite a while (job security should be above average). Every week, I allocate $300 to my Mortgage ...
2
votes
2answers
1k views

Why can't I withdraw the $57 in my account?

Friday, I noticed that there is still $57 remaining in my checking account after paying bills and withdrawing the cash I needed. I tried using it for food, but I'm unable to spend or withdraw the $57 ...
5
votes
2answers
122 views

Tax deferred savings limits and early retirement possibilities

I've been listening to some financial independence podcasts where people claim that if you save 75% of your income into tax deferred retirement accounts, you wind up paying no income tax even with an ...
7
votes
2answers
226 views

If I could, should I buy a car with cash instead of credit?

The most common (and realistically feasible) method of buying a car is to buy it with a loan/credit card, then pay it off in bits every time interval. However, say that I could buy a car in full when ...
11
votes
4answers
2k views

Any compelling reason to contribute to a 401k if my employer doesn't match?

My employer does not match 401k contributions at all. Currently, I do not make any contributions to a 401k or an IRA due to a need for liquidity. Aside from the obvious gains incurring no tax ...
17
votes
4answers
4k views

Should my rainy day fund be fixed or should I increase it by a little every month?

I've just started working and I'm building up several of my investments (mortgage preparation fund, general savings fund, rainy day fund, wedding fund). As for the mortgage, wedding fund, and general ...
5
votes
3answers
237 views

Where to park $50k for 2 years (taxable)?

Where can I put $50k for 2 years while I'm in school and transitioning back to full-time employment? I eventually want to purchase a house, but I'm not sure where I'm going yet. I'm a full-time grad ...
15
votes
1answer
1k views

Saving for brother's children

My brother is not working and waiting on social security disability approval. He has two small children 6 and 10, what is the best way for me to set up savings for their education so that it ...
2
votes
2answers
82 views

How does a TFSA work? Where does the interest come from?

I have extremely little knowledge about finance in general, but I have had a TFSA for several years now and know that my money keeps magically growing. Exactly where does the interest I gain come ...
0
votes
1answer
118 views

what's the best option to save money on everyday expenses? [closed]

It's difficult to manage everyday expenses in this tight economy. How can I discover changes in daily spending habits that will yield the greatest results?
3
votes
1answer
52 views

How to account for transferring money to an investment account?

I have recently been asked to look after the books temporarily for a small not for profit sports club in Christchurch New Zealand. I noticed that they had entered transferring of money from the ...
0
votes
3answers
324 views

Why don't people generally save more of their income?

Personally, I can save up to 80% of my income. I believe normal person could save about 50% of their income, but none of countries average even 20%. Why? according to : ...
9
votes
6answers
579 views

Is it okay to be married, 30 years old and have no retirement?

I am a 31 year old attorney with a 10 month old baby. I make $130K a year. My husband is also an attorney, and makes approx. $60K a year. WE both do not have any retirement savings or college ...
4
votes
3answers
241 views

Savings account vs Roth 401k

Is there any reason to have a savings account if you have a Roth 401(k), which allows early withdrawal of principal? If pooled together, couldn't you get the liquidity of a savings account and, if ...
0
votes
2answers
193 views

Where should a young student put their money?

I'm a young student with no student debt (my tuition is paid for, I've long since saved up enough.) I'm looking into my future and looking at investing in index funds or other sorts while I still live ...
2
votes
1answer
173 views

In India, what is the difference between Current Account and a Savings Bank Account?

Considering that Current Accounts in India give you no interest, why would anyone keep a current account open? Why not just use a Savings Bank Account? ATleast they give you some daily interest on the ...
3
votes
4answers
617 views

First Job, should I save or invest?

I just got my first real job and I'm wondering how much I should start saving. Is there a good percentage to start at based on personal experiences? And is it better to save my money or invest in a ...
0
votes
2answers
245 views

Starting an investment portfolio with Rs 5,000/-

I would like to start my investment portfolio with Rs 5,000/- every month. I am trying to find a scheme that gives me the flexibility to pull out my money really quickly (family emergency etc) and ...
2
votes
3answers
321 views

Where should I park my rainy-day / emergency fund?[INDIA]

I was looking at options for where I can put my emergency fund. I came across these questions during my search - #1 and #2 - which are specifically for U.S. and Canada. I want to know what options ...
1
vote
6answers
472 views

What is the best use of “spare” money?

Here are some cliff notes about me: 30 years old immigrant (came to the US late 2009), so no established credit (got a $900 credit card with my bank finally last year) No spouse, no children. Just ...
11
votes
5answers
4k views

What percent of my salary should I retain?

Here is my situation: right now I am living in Puerto Rico, and I am planning to relocate to the mainland US (probably to Seattle, WA). Although Puerto Rico is a territory of the US, almost everything ...
18
votes
7answers
3k views

How risky is it to keep my emergency fund in stocks?

Everybody says you should keep an emergency fund of 3–6 months of expenses in cash or near-cash (CDs, treasuries, etc.). I know this is heresy but if you have funds for significantly more than 6 ...
6
votes
4answers
8k views

What is the best safe way to earn most interest of 100k savings?

What is the best safe way to earn most interest of 100k savings? What is the safest way I can maximize my interest income on 100k savings? I want as little risk as possible
4
votes
1answer
202 views

How often do Savings Banks in India pay interest?

As per my understanding, Banks in India are to run under the directives of the Reserve Bank of India. How often do they pay dividends on the interest that they offer on Savings bank accounts? Every ...